Wealth Enhancement Advisory Services LLC Acquires 94,314 Shares of The Progressive Corporation $PGR

Key Points

• Wealth Enhancement Advisory Services LLC boosted its stake in The Progressive Corporation by 27.8%, buying 94,314 shares in Q4 to hold 433,312 shares worth about $92.0 million (≈0.07% of the company).
• Analyst sentiment is mixed: MarketBeat reports an average rating of "Hold" with an average target of $239.72, while several firms have recently trimmed price targets or downgraded the stock.
• Company insiders have been net sellers, offloading a total of 11,417 shares (~$2.36 million) over the past 90 days, leaving insiders with about 0.33% ownership.

Wealth Enhancement Advisory Services LLC increased its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 433,312 shares of the insurance provider's stock after buying an additional 94,314 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.07% of Progressive worth $92,004,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock worth $813,000 after acquiring an additional 457 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Progressive during the 4th quarter valued at $269,000. Bison Wealth LLC increased its stake in shares of Progressive by 3.2% in the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider's stock worth $615,000 after purchasing an additional 80 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Progressive in the 2nd quarter worth $3,133,000. Finally, AXQ Capital LP bought a new position in Progressive in the 2nd quarter worth $532,000. 85.34% of the stock is currently owned by institutional investors.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Bank of America kept a "buy" rating and, despite trimming its target slightly to $305, still implies substantial upside — a supporting factor for the stock. Progressive had its price target lowered by Bank of America Corporation from $308.00 to $305.00
• Positive Sentiment: Wells Fargo raised its target to $217 and maintained an "equal weight" view, a modest positive signal that offsets some downgrades. Wells Fargo raised its price target on Progressive
• Neutral Sentiment: Progressive is getting increased attention from retail and news platforms; Zacks flagged PGR as a "trending" stock, which can drive short-term volume and volatility but doesn't change fundamentals. The Progressive Corporation (PGR) Is a Trending Stock
• Neutral Sentiment: Recent media noted intraday moves in PGR (short-term price swings); useful for traders but not necessarily indicative of a lasting trend. Progressive (PGR) stock moves -1.29%: What you should know
• Negative Sentiment: Mizuho cut its target to $223 and moved to "neutral," trimming upside expectations and applying downward pressure. Progressive had its price target lowered by Mizuho from $235.00 to $223.00
• Negative Sentiment: Barclays downgraded PGR from "strong-buy" to "hold," reducing buy-side conviction and potentially limiting near-term gains. Progressive was downgraded by Barclays PLC from "strong-buy" to "hold"
• Negative Sentiment: Keefe, Bruyette & Woods trimmed its target to $227 and set a "market perform" rating, another modest drag on sentiment. Progressive had its price target lowered by Keefe, Bruyette & Woods
• Neutral Sentiment: An unrelated biotech update (Zenas BioPharma) appeared in the feed but has no material bearing on Progressive’s insurance business. Zenas BioPharma Advances Phase 3 Orelabrutinib Trial

Insiders Place Their Bets

In other Progressive news, CAO Carl G. Joyce sold 141 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $29,892.00. Following the completion of the transaction, the chief accounting officer directly owned 828 shares in the company, valued at $175,536. This represents a 14.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Karen Bailo sold 3,517 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the sale, the insider directly owned 32,348 shares of the company's stock, valued at approximately $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,417 shares of company stock worth $2,357,289 over the last ninety days. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on PGR. Keefe, Bruyette & Woods cut their price target on Progressive from $232.00 to $227.00 and set a "market perform" rating for the company in a report on Thursday. Bank of America lowered their price objective on Progressive from $308.00 to $305.00 and set a "buy" rating on the stock in a research report on Thursday. HSBC downgraded Progressive from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Barclays set a $247.00 target price on shares of Progressive in a research note on Wednesday. Finally, Morgan Stanley lowered their price target on shares of Progressive from $214.00 to $205.00 and set an "underweight" rating on the stock in a report on Wednesday, January 28th. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Progressive currently has an average rating of "Hold" and an average target price of $239.72.

Progressive Price Performance

Shares of Progressive stock opened at $205.93 on Monday. The company has a market capitalization of $120.66 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 6.49 and a beta of 0.33. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock's 50-day simple moving average is $206.07 and its 200-day simple moving average is $220.80. The Progressive Corporation has a 52 week low of $197.92 and a 52 week high of $289.96.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive's payout ratio is currently 2.08%.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.

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